Romania: NPP Cernavoda project options for reactors 3 and 4

, SEE Energy News

The visit of the President of Eximbank USA Kimberly Reed to nuclear power plant Cernavoda will materialize through options for the project of reactors 3 and 4, which Nuclearelectrica will submit to the approval of its shareholders as soon as possible, said CEO of Romanian electricity producer Nuclearelectrica Cosmin Ghita.

He recalled that at the beginning of October 2020, the Government of Romania and the United States signed an intergovernmental agreement on the development of cooperation in the nuclear industry. At the same time, a Memorandum of Understanding was signed with Eximbank USA on the development of units 3 and 4 and the refurbishment of unit 1, worth over 8 billion dollars. The agreement was recently approved by the European Commission.

Both projects are essential for the future of energy security. Today’s visit is another step in realizing this important collaboration. These are crucial objectives for Romania to reach the decarbonization and energy security targets, Ghita said, adding that that the refurbishment of unit1 will allow the unit to operate for another 30 years, at half the cost of building a new reactor.

In July, PM Ludovic Orban said that by 2030 Romania, through electricity producer Nuclearelectrica, will invest 9 billion euros in the upgrade of unit 1 of NPP Cernavoda, as well as construction of two new units. He stressed that the Government has big plans for NPP Cernavoda and aims to build two new reactors by the end of 2030, adding that the financing scheme for the project is currently in development. He said that these investment should be made in cooperation with serious partners from the Euro-Atlantic area, who have the expertise and the necessary technology to support the implementation of these investments which are fundamental for Romania’s economic development.